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tv   The Daily Rundown  MSNBC  July 16, 2010 9:00am-10:00am EDT

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into the family. >> no, no, no. >> first dude about that, willie. >> pat stands by his statements. pat, you were right. believe me. trust me. if it's way too early, willie? >> it is "morning joe." stay tuned for "the daily rundown" with chuck and savannah. >> well, it is working. a cap placed on the well in the gulf stopped the gusher of oil for now. but is it for good? look, if somebody's out of work right now, the only answer that i'm going to have for them is when they get a job. >> my exclusive interview with the president on the economy, the midterms and whether washington is broken. it's july 16th, 2010. i'm chuck todd and the earth apparently is moving. savannah guthrie is off and missed the big earthquake. get to the rundown and starting with what appears to be good news in the gulf. bp said this morning it is encouraged by the early testing
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on the cap placed on the well. nbc chief environmental affairs correspondent anne thompson in venice, louisiana, this morning. anne, we've been deluged with e-mails of the government, thad allen's team, basically making sure we don't over hype this. why? >> reporter: well, along with trying to contain the oil, they're trying to contain expectations because this test is far from done. the key here, chuck, all about building up pressure and so far they have been able to build pressure to 6,700 pounds per square inch, that's above the 6,000 psi threshold they set. anything below 6,000 would mean that that well is having severe problems beneath the ocean floor. the goal is to see if they can build pressure up to 8,000 pounds per square inch and then they'll think the well is in good shape. it is only after that, only after 48 hours of running this test will they make a decision
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as to whether or not they're going to continue with keeping all the valves shut and essentially shutting in the well or if they're going to go back to that containment system. it is a real possibility they go back to the containment system. so that's why they're trying very hard to manage expectations here. >> anne, is it a concern that if they keep all the valves shut that it could build up too much pressure and then just blows like you would, i mean, essentially like anybody you need to actually open the valve a little bit while they deal with the relief wells that they're digging? is that what's going on here? >> reporter: yeah. i think the key here is they're less concerned that it would blow up as we think of an explosion but more that the explosion would happen underneath the sea. that's what they're really worried about. somewhere there's a crack in there that, you know, could be exploited by this sealing off of all the valves so they have got -- i can tell you they have two of the rovs that have
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cameras and scurrying -- scouring the sea floor and seen no cracks there. four other rovs out there with sonar and detected no cracks and now they're doing a seismic survey. they should have the results of that back in the next 24 hours. chuck? >> all right. anne thompson in venice, louisiana, with what appears to be the best news we have gotten in months there. thanks very much. we'll hear from the president, by the way, about the update from the gulf and the oil in about 20 minutes and we'll bring you that live. senate democrats crossed a finish line with the financial reform after three republicans broke ranks to vote for the bill. president obama touted the achievement yesterday afternoon after returning from michigan. >> because of this reform, the american people will never again be asked to foot the bill for wall street's mistakes. there will be no more taxpayer-funded bailouts. period. >> all right. nbc senate producer ken
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stricland on the hill this morning and we know the president signs it next week. how quickly for instance the new consumer protection agency up and running? >> chuck, it is a very interesting thing. as you remember with health care passed several months ago, we're finding out the affects of health care. this is no different with the reform bill. it may be ten years before we find out whether or not this actually works. moments before the vote, banking committee chairman dodd said that was poignant and said it's not a perfect bill and the ultimate test of whether it works will not be until the next financial crisis. that notwithstanding, senate majority leader reid found the 60 votes with the help of 3 republicans to break the filibuster and ultimately pass this bill. the thing that is are in this bill are consumer protections you talked about. they have more watchdogs to watch over the industry and gave the watchdogs stronger teeth. they also have tighter reins on
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wall street. but again, the question still remains, will the bill ultimately work? now the bill that's passed goes to the regulators and those regulators and bureaucracies around washington will have to actually write the language that actually implements some of these provisions. chuck? >> all right. and ken, very quickly, we're going to have a 100th senator appointed today by west virginia governor joe manchin to replace the late robert byrd. what do we know? >> we know that means a lot for senate democrats. harry reid is optimistic that once he can get that other vote and that would give them 59 democrats in the caucus, that they'll be able to start to move forward with some of their legislative priorities. they can get done quickly is unemployment benefits and only need one more republican to join with them to break the filibuster and get those unemployment benefits out to americans. chuck? >> all right. that one more republican if i recall, olympia snowe seemed ready to break on that issue.
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thank you very much. >> thank you. what impact will the new law on the large financial firms and consumers have? cnbc senior economic reporter steve liesman joins me. the one critique i have heard about the new financial reform law is there's a fear that it will contract credit at the end of the day. that there won't be all of a sudden any opportunities for people to take a little bit of risk on lending money. >> well, i think that's probably true, chuck. the idea is if you are a well-informed borrower and you don't mind taking certain risks, those risks may not available for you to take because the consumer bureau may not approve them. although you think they could approve them for people of certain incomes the way they do investing in hedge funds but the idea had there been a form of consumer watchdog, some of the subprime loans, like the ones at a teaser rate for two years and balloon beyond an ability for
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most people to pay it, those would not be allowed by the consumer bureau. if you feel comfortable with that but the idea was in en masse and found it led to a financial crisis. >> all right. well, and what other -- what are banks doing to prepare for the new law? >> i think they're going to wait for a little because there's a big study period until they implement the volcker rule like owning hedge funds and stakes in private equity so that's a big part of it. there's a 12-month period and they have to slim down and then reporting to this new financial risk council out there so a lot of changes coming for banks and banks complained pretty rightly. a new layer of bureaucracy for them and the cost perhaps for chuck and safety and when is savannah coming back? >> she has a few days off. it is july. we got to -- >> i didn't know she wasn't going to be here, chuck. i didn't know that before i agreed to come on. >> i'll warn you better next
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time. >> here's the backhoe. >> exactly. hey, it is the stimulus apparently, right? steve liesman for us at cnbc's world headquarters for us. thanks very much. apple executives are talking to the press this afternoon to answer questions about the reception problems that have left apple maniacs unhappy to say the least. george lewis is in cupertino, california, this morning. george, are we going to see a recall by apple? >> well, you know, chuck, there are reports this morning that apple will not do a full blown recall. that could be highly expensive for the company. they're talking about a simpler, cheaper fix. perhaps a rubber bumper around the outside of the iphone which normally sells for $29.95. the company might give those away to customers that already brought the iphone. the problem is the antenna for the iphone is a steel band around the outside of the device f. you touch in it a certain way you can short it out and leads
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to dropped calls. apple at first denied a problem and now acknowledges it after consumer reports replicated it in the laboratories and said that they could honestly not recommend that people buy the iphone. chuck? >> george, apple known to be very secretive of these things. is there a lot of finger pointing going on behind the scene? >> reporter: well, we don't know how much finger pointing there is because ap succinylcholine so secretive but the thing is that they have told different versions of what's wrong with the iphone. at first they said there's no problem and then maybe a software glitch and now apparently acknowledging there's problems with the antenna. >> all right. george lewis where all the action is this morning. very interesting to see what they have to say. thanks very much. all right. when we say shake-up in washington we are not usually talking about earthquakes but that's apparently what we got this morning. so rumor has it. nbc news tom costello claims to
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have felt it. i didn't. whatever. there are people that claim these things. tell us about the so-called earthquake. >> reporter: just making the whole thing up. >> somebody is. >> reporter: listen. the national earthquake center has come to my defense. 3.6 is what this thing registered here in the washington -- we're used to political earthquakes. thises a real deal here in the washington area. a small earthquake, no reports of anywhere injuries or damage at this point. it happened about they say in the neighborhood of gathersburg, about 20 miles outside of washington, d.c. it is in the maryland area. three miles deep. 5:04 this morning. i heard it. it was loud. it started out and then crescendoed. died down pretty quickly after seven seconds or so. woke up our little girl saying i thought it was thunder and went back to sleep. my wife and i were up for good at that point. >> tom, i'll bring in somebody that knows something about
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earthquakes. george lewis, 3.6. are you laughing at us? come on, george. >> costello, you are a wimp. we sleep through 3.6 earthquakes. we have them all the time out here. call me when you got a 6. >> let me ask you this. there's a geologist here. you have covered a hundred of these. there was a geologist on the radio saying a 3.6 on the east coast, you feel it more than the west coast. have you heard that before? >> well, no. actually. depends on the ground conditions where you are. you can be -- you can be on kind of soft, shifting soil and you get that jell-o effect. if that's the kind of soil your house lies on, you might have felt it greater. we have an epidemic of hot air. you have quakes. climate change. >> plenty of hot air here in d.c. believe me. >> i was just going to say. all right. we have to put an end to this debate.
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george lewis with hot air normally here in washington. tom costello, earthquakes. up is down. cats and dogs living together. thank you both very much. my interview with president obama. of all the issues now stacked on the plate, what is the one issue that keeps him up at night? not surprising. is all forgiven between the white house and pelosi's army and are democrats ready to move beyond that dust-up? we'll hear from the president on oil in a few minutes, about 15 minutes an then off for a weekend with the family in maine. you're watching "the daily rundown" on msnbc. transitions adapt to changing light so you see a whole day comfortably and conveniently while protecting your eyes from the sun. ask your eyecare professional which transitions lenses are right for you. female announcer: thanks to the eyeglass guide, it's never been easier to find the right pair of eyeglasses. check out eyeglassguide.com today,
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well, on thursday president obama made what's becoming an
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almost weekly trip to the heartland. having a hard time convincing the public that the stimulus plan is working so we sat down with the president in michigan for an exclusive interview on the road. mr. president, thank you very much for taking the time to do this. >> thank you. >> let's start with you're here. another groundbreaking for a battery plant. an attempt to show positive results of a stimulus program that is being received a little more skeptically by the public even now opposed than 15 months ago. why the disconnect? >> here in holland, michigan, and across the country. when we came into office, america accounted for about 2% of the advanced battery markets for hybrid cars an enwhat we did is we said, look, let's put up $2.4 billion to be matched by private dollars and now you have got nine advance battery
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manufacturing plants online. ultimately 21 and we expect by 2015 we are going to have about 40% of the market in advance battery technology. and that's going into, by the way, a couple of cars we saw today. the chevy volt as well as the ford focus. so, this is an example, i think, of what economic strategy has been from the start. we had a disaster on our hands. we've been able to stabilize the economy and prevent the freefall instead of 750,000 jobs a month being lost, we've now gained jobs in the private sector for five consecutive months but we've still got a long way to go and so not surprisingly, the american people who are out of work who are still struggling to pay the bills, they still want to see more action when it comes to jobs and i don't blame them. but what i do want to point out is very specific things that are being done as a consequence of
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some tough votes that were taken by democrats last year. >> were there more things in the stimulus, you talked about the public/private partnership and seeing a ton of private capital not in the game right now a. couple of trillion dollars is what one estimate says it is. were there not enough partnerships in this stimulus at the beginning? >> it turns out that we are actually getting $3 in private investment for every dollar that went in to the recovery act. so, that leveraging is taking place. you got to remember, also, that about a third of the recovery act last year was tax cuts. and nobody talks about it but those were not just tax cuts to individuals. they were tax cuts to small businesses. but, there's no doubt that there's more that can be done and so that's why for example next week i hope the senate takes up the proposal to get small businesses loans because although big companies are now getting loans, you are seeing problems with respect to small companies getting credit. >> you had a meeting yesterday with warren buffett, president
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clinton, other ceos. i understand the issue of private capital getting into the market. i assume came up. what are they telling you? what are the ceos telling you of why this money isn't being spent right now to create jobs? you hear it's we don't know what the government's going to do, too much uncertainty. is that what you're hearing. >> i'll tell you what warren buffett said. he said we went through a wrenching recession. and so, we have not fully recovered. we're about 40%, 50% back. but we have still got a long way to go and the reason people haven't fully invested yet and creating as many jobs as we would like is because it takes sometime to come back. he used a good example in the housing market where about 1.2 million households are formed by a house each year. that's been the historic trend but we went through a span of time four or five years because of the bubble and subprime lending and the shenanigans
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going on with the mortgage market where we were building 2 million homes a year. now we're building 500,000 and what warren pointed out was, look, we'll get back to 1.2 but right now we're soaking a bunch of inventory so a lot of the challenge is to work our way through this recession, try to accelerate not only profits because companies now are making money primarily because they cut tosts and to see the opportunities out there and that's what we were trying to show with this plant. there are enormous opportunities for the future. we just have to seize them. >> i understand warren buffett told some business leaders last week at a conference that he no longer fears a double dip recession. are you confident, no double dip recession? >> i'm confident that we are moving in the right direction. the economy is definitely growing. and, we are definitely seeing additional hiring. >> should we fear a double dip? >> here's what we should fear.
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that if we don't keep track, keep on track with the policies that we put in place, if we started seeing, for example, a wrenching reversal in investment, the kinds of plant that is we saw today, we could end up having problems, further slow growth and the main thing that keeps me up at night right now is we lost 8 million jobs. the month i was sworn in we lost 750,000 jobs. we've regained about 600,000 this year so far. and if we stay on pace, hopefully we'll gain several hundred thousand more. but making up for that 8 million is still a challenge. and that's going to require us tapping into the new sectors like the clean energy economy where there is growth to be had. it also means we have to start selling more than we're buying and emphasizing export growth so much. but look. nobody in the white house is satisfied with where we are right now.
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what we absolutely are convinced of, though, is that we are on the right track and i think that the statistics bear that out. >> in your remarks in holland, you seem to also make a political argument about the other side saying they weren't for the plans. what do you tell the person, may have voted for you, can't find a job or got laid off since you took office. why they should still keep the democrats in charge because they're not feeling any of the positive yet. >> look. if somebody's out of work right now, the only answer that i'm going to have for them is when they get a job. up until that point from their perspective, the economic policies aren't working well enough. >> you're okay if they hold you accountable for that? >> that's my job as president is to take responsibility for moving us in the right direction. but what i'm absolutely convinced of is that we're going to have a choice. not just in november but for years to come. we can go back to all of the
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same policies that got us into this mess where we basically provide special interest loopholes, we don't regulate wall street. we have a health care system that's out of control. we provide tax cuts to folks who don't need them and weren't asking for them. or we can take the approach that i've taken since i came in and i campaigned on which is to make sure we start investing in our education system, to make sure that we're investing in clean energy. to get control of health care costs. to deal with our structural deficit, the fact that we're spending more money through entitlements and through a whole range of other things than we are taking in. those structural challenges have to be fixed and it is hard because you don't see immediate gratification. but what i say to the person who's out of a job right now is we are going to be doing everything we can to create the environment where the private sector can come in and start creating jobs but i'm not
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anymore satisfied than they are and until they can find a job i expect to be held accountable. >> well, still ahead, part two of the interview with president obama. what does he say about the midterm elections amounting to aef are ren dumb on him and his policies. next, the top ten states to watch that are microcosms of the election cycle. the politics, plirs and issues shaping the midterm debate. but first, aafb, andrews air force base. you see it on every schedule. when the president is traveling. andrews is home to the little plane they call air force one. there's a fleet of them. in august, 1942, president roosevelt ordered the then secretary of war to acquire the land for a military airfield. president harry s. truman, the first to fly a presidential flight out of andrews on november 24th, 1946. by the way, those press charters when the press corps follows the president as they just left for maine, it's also comes from
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andrews. a great crew out there. a great air force base. we'll be right back. ♪ [ male announcer ] we make them beautiful. ♪ we make them tougher. ♪ we make them legendary. we make them better...
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all right. in few a minutes, president obama's expected to speak about the oil spill. stay with us for live coverage on msnbc and before we go to that, it is friday. so it's time for one of our 2010 top tens from the nbc political units. the states the best microcosms of what's happening with the political environment going into november and the emerging 2012 race, the top ten states we're watching. number ten, new mexico. republicans trying to get a bit of a revival. number nine, arizona. how will hispanics react to the new immigration law? number eight, indiana, big test there to see if democrats keep it competitive. number seven, illinois. number six, pennsylvania. it's a swing state. sometimes. democrats seem to be in better shape than they had been. number five, california. ditto with what i said about illinois. if this isn't the year nor
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republicans to make gains there they'll never come back. number four, nevada. a new poll shows reid leading with 44%. guess what? none of the above is on the ballot and with sharon angle, might be helpful to reid. number three, ohio, always important. number two, colorado. the emerging swing state of 2008. big test to see if republicans come back there. number one state to watch in the words of our late mentor tim russert, florida, florida, florida. it has everything, the test of the independent candidate. the fight inside the republican party. fights inside the democratic party. democrats desperate for that governorship. this is a state that's flailing all over the place. hard hit by the economy. hard hit by the housing market. florida will tell us more about what really happened in this election cycle i think than any other state going on. all right. moving on, bringing you the president's remarks from the rose garden when they happen but coming up from health care to financial reform, president obama's getting the job done legislateively. so why is he still perceived as
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flirting with what's been a tough presidency? a readout. there's a compelling piece in politico. very interesting read. but first, today's trivia question. at which former president's law firm did rudy giuliani and reppive peter king of new york once both clerk at together? the answer coming up. something about grilling out that makes everything taste better. maybe it's cooking over an open flame. or the juicy beef franks on a delicious bun fixed up just the way you like them. well, whatever it is, you can enjoy more of it with walmart's guaranteed unbeatable prices on all your cookout favorites. ♪ save money. live better. walmart.
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all right. as we await the president, take a quick look at what else is driving today. for the first time in nearly three months, no oil from the blownout well in the gulf right now. bp closely monitoring its new sealing cap looking for pressure changes and watching for any potential new leaks.
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again, we'll hear from the president in a few minutes. 2:00 p.m., west virginia governor joe manchin naming a temporary replacement for the late senator robert byrd. the 100th senator probably get sworn in early next week. this afternoon, apple holds a press conference to discuss the problems that consumers are saying they're having with the iphone 4. a fault with the phone's antenna is causing customers to lose reception. all right. as we await the president, he's going to sign a new financial reform bill into law next week. and yet, despite getting it done, confidence in the president is at an all-time low. so time for the weekly readout. bring in ann cornblute and jim van dihi. jim, i want to start with you before we get ready to hear from the president. he had a pretty good day yesterday when you consider the news from the gulf, he gets his financial reform. but victory here in washington is not translated into
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popularity around the country. >> it's not. it's both striking and very frustrating to this white house because they say if you look back at the last 17 to 18 months, he's had remarkable success. health care bill. financial regulation. wipding down the war in iraq and in afghanistan, if you will. the american public has a low opinion of him and especially independents. two big reasons. joblessness rate. the fact that the unemployment around 9.5 every single president is susceptible to the gravitational pull of those numbers. and i think the other point is some of his issues that he campaigned on just aren't that popular now that they're policies especially with independents. when he was elected, 62% of independents had a favorable impression of him. that is in the mid-30s looking at gallup. that's a huge and perhaps irreversible swing at least for a couple of months among the most critical voting bloc. >> ann, you travel with the
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president a lot. sometimes more than a lot of us and been to a lot of these events, groundbreaking and almost doing them weekly. are they just -- they don't seem to have an impact nationally and to the point of these to have an impact locally like in michigan to dominates the western michigan media market? >> well, of course, you and i were both there yesterday and you did that great interview. yes, we have been noticing on a lot of these trips the kind of things to expect a mayor to do, on the order of a ribbon cutting. the groundbreaking for yesterday produces 300 permanent jobs. that is great for those 300 people and additional 300 people hired to build the factually but it ises no not on the order of millions of jobs he needs for it to be felt by people and, yes, about dominating the michigan media market and talking about important swing states and then yesterday he got in a nice little shot at pete hoekstra
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running in michigan. he is able to talk substance in the form of batteries and show us all he is outside of the beltway and seeing real places and real things to happen and get us out of the beltway with him for a few hours anyway. >> the frustration -- chuck, the frustration, looking at wisconsin, neighboring michigan, there's a lead story today that looks at how they're losing jobs again in june in the public and private sectors and that the stimulus is not lifting public sector employment so you can go and do the events but people looking at the reality around them, words aren't going to change that. they need their circumstance to change for obama's popularity to change. >> speaking of reality, it seems as if there was a reality check inside the democratic party this week. it all started with robert gibbs on "meet the press" basically saying what everyone else is saying which is, guess what. there are enough seats in play in the house to make -- give the republicans a chance.
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now, ann, robert never said that republicans were going to win. but by acknowledging they had a chance seemed to tick off the house democratic leadership. is all frich now? >> it seems like it is. obviously, sparked a huge fight with the house speaker, at least a public fight. my initial impression was gibbs is doing what everyone else is doing in the white house, lower expectations. if they lose a lot of seats numerically, we'll say they did better than expected. they're upset he hasn't campaigned for them more and i have an idea they'll bury the hatchet very quickly. >> and jim, what did this episode tell you about sort of the command and control this white house has over the democratic party? >> it doesn't have a lot of command and control. at least with the democratic party in washington. because a lot of democrats, they don't really care for the white house, at least as a personal level. they don't have a close, personal connection with the president and often some of the
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aides and things they do irritate house democrats on the hill and why the small episode of gibbs just basically saying what we all know to be absolutely true seemed to set off this big firestorm and allowed politicians to go public with things they've been telling us privately for sometime and it does matter because money follows momentum in washington and republicans took the words and go hit up lobbyists and companies for more money and unless republicans close the fund raising gap and come up with money to fund the close races and the outside groups that people are forming they're not going to win back the house. republicans know that because republicans privately tell you they're not going to win it held today and probably pick up 25 to 35 seethes and need more money and momentum. >> expectations out of control for the republicans? >> i think -- i think both sides as it gets close happens every election.
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saying it will be every close. but i think that is important for democrats given how disspirited the base has been aann and jim, lots of compelling stuff from both of you this week. folks should go back and read it. we always rush too much to do this stuff. thank you both. all right. time now, while we wait for the president, for the trivia, which former president's law firm did giuliani and king of new york both once clerk together at? close historians of president nixon know it's nixon. nixon, munlg, rose and guthrie, and alexander, guthrie no relation to miss savannah guthrie. does the president think washington is broken? >> washington has spent an inordinate amount of time on politics, when's up, who's down and not enough on how are we givering for the american people? >> and this sunday on "meet the press," the first of its kind debate. all four senate and house
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campaign committee chairmen in the first ever joint appearance on the senate side. senator kor anyone, robert menendez, pete sessions and chris van hollen, the four guys in charge of holding or keeping control of the house and senate. that's this sunday on "meet the press." a political junkie dream. but first, white house soup of the day, it is friday. usually a fish theme. it's crab and corn chowder. always a tasty one. i have fallen in love with making bird houses.
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spiriva does not replace fast acting inhalers for sudden symptoms. stop taking spiriva and call your doctor right away if your breathing suddenly worsens, your throat or tongue swells, you get hives, have vision changes or eye pain... or have problems passing urine. tell your doctor if you have glaucoma, problems passing urine or an enlarged prostate... as these may worsen with spiriva. also discuss the medicines you take... even eye drops. side effects include dry mouth, constipation and trouble passing urine. now, i'm managing my chronic bronchitis every day. ask your doctor if once-daily spiriva is right for you. all right. this date 1969, apollo 11 blasted off for the first manned mission to the moon. neil armstrong, buzzal drin and michael collins all on board. white house press secretary robert gibbs sparked a firestorm this week saying there's enough seats in play in the fall to give republicans control.
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in our interview in michigan, i asked the president if he's prepared for the midterms to be a referendum on him and his policies. >> well, first of all, we have a long ways before the election, number one. >> you disagree with robert gibbs' assessment? enough seats in play? >> number two, number two. this is going to be a choice between the policies that got us into this mess and my policy that is are getting us out of this mess and i think if you look at the vast majority of americans, even those who are dissatisfied with the pace of progress, they'll say that the policies that got us into this mess we can't go back to. they understand that. because that i remember that even before the financial crisis, wages were flat lined. jobs were moving overseas and so, now, when they look at holland, michigan, we're seeing jobs move from south korea here to the united states, that's something that gives them a sense of a future, a vision in which america's strong, it is
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compe competing. we are producing. not just consuming. that's the kind of future i think americans went. >> you are prepared for november to be a referendum on your policy and this president? >> chuck, you are not listening to me. i'm accountable for the policies i put in place but americans don't have selective memory here. they'll remember the policy that is got us into the mess, as well. and they sure as heck don't want to go back to those. >> do you think washington is broken and the reason i ask you this, because when you appointed -- you did the recess appointment of donald hogsett and you know what? the senate process is broken and we got to go around it. >> well, what is true is when it comes specifically to appointments, whether it's judges or critical positions in national security, homeland security, fbi, there have been
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more delays, obstruction and stalling when it comes to just apointing people to run the day-to-day aspects of washington than any president has experienced in history. and, you know, the fact out matter is that i can't play political games with the senate on these issues. ooif got a government to run and at a certain point we have to go ahead and just make sure that people are in place to deal with the enormous challenge that is are ahead. >> not ready to say washington's broken? >> well, here's what i'm ready to say. that washington has spent an inordinate amount of time on poll sicks, when's up, who's down and not enough on how are we delivering for the american people? the good news is that despite no cooperation from the other side, we have over the last two years stopped an economic freefall, stabilize the financial sector,
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we're on the verge of passing a financial regulatory bill that provides consumers the kind of protection -- >> probably will be passed by the time people see this. >> maybe by the time we land and i get back to washington. a health care bill that not only is going to make sure that everybody has access to coverage, but also, reducing costs. so, when you look at the list of things we have been able to accomplish, it does show that when people are determined and are willing to take tough votes even when it's politically inconvenient, we can get things done. >> that must be frustrating. you have had an enormous amount of legislative victories. it is not translated into political capital with the public. is it, honestly, are you frustrated by that? >> i'm not frustrated because we were in such a deep hole that even if we got three quarters of the way up out of the hole, even if i know we are going in the right direction, people are still feeling --
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>> think it's all economy? >> i do. look. when i -- before i was sworn in, i remember talking to some of my guys and we had just gotten the estimates from the economists about what we might be seeing in terms of not only job losses but economic contraction. i think people would anticipate, you don't have to be a savvy political analyst like chuck todd to say if unemployment is 9.5%, the party in power's going to have some problems regardless of how much progress we have made and how much worse it would be if the other side had been in charge. >> two more questions, not about the economy. the terrorist attack in uganda. clearly your administration's taken this al shabab seriously. you have a senior official telling us the operational abilities of that entity out
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there is maybe stronger than ale are now? >> here's what we've done. a reason that the analyst would say that al qaeda is stronger than yemen is because we have been pretty successful at forcing al qaeda in the mortar regions between afghanistan and pakistan to hunker down. they had been pinned down and it's hard for them to have big operations. we have to keep that pressure up. it is absolutely true, though, that al qaeda in yemen is dangerous and what they've been able to do is not mount huge-scale attacks, but they are successfully recruiting individuals who may carry out low-level attacks. >> well, in some ways it's harder because these are people whose names aren't on the list. mu tulla, the guy who tried to blow up the plane over detroit is a classic example of the kind of person that al qaeda and
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yemen is recruiting. many people are traveling to yemen and getting indoctrinated and then being sent back to the west. and we want to make sure we are entirely on top of it. >> they are cooperating with us. >> they are cooperating and they have been cooperative but it is a very poor country and its terrain is a little bit like afghanistan's. they have their own ethnic problems there and, so, this is a tough part of the world, but we are building up capacity, working with them to make sure that we don't take our eye off the ball, even as we continue to put pressure between afghanistan and pakistan. >> vacation in the gulf? i know the first lady was down there touting it. >> it was beautiful when i went down there. when we were in pensacola, the beached looked as pretty as i have seen. we're going to be trying to figure out where we're going to be able to take some time over the course of the summer and a month of it is going to be taken
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up with it malia going away for camp and i may shed a tear when she's on the way off. >> i get that feeling. thank you. >> thank you. all right, just minutes from now president obama is expected to speak about the oil spill. stay with us for live coverage on msnbc. boss: and now i'll turn it over to the gecko.
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all right. we're waiting here for president obama to make a few remarks about the what has happened in the gulf on this oil spill. of course, we know bp got a cap and seems to have temporarily stopped the flow of oil, but all in the last 24 hours, we have been getting a ton of warnings from administration officials not to overhype this event. they're still doing a lot of testing. i imagine when we hear from the president any minute now he will have the same words of cautious optimism but emphasis on the word cautious and caution. that's it for "daily rundown."
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up next, chris jansing, again, she will start on the remarks from the president. andrea mitchell will speak with ed markey and we'll see you monday with a full crew, i promise. i'm meteorologist rafael mirranda with your business travel forecast. uncomfortable heat and humidity for the east today. watching out for some scattered storms in detroit. out west more of the same hot conditions in denver, 95 for your high there. mid 90s in los angeles and 119 with sunshine in phoenix. when i was seventeen i was not good to my skin.
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breaking news. the first response to bp to the oil well in the gulf. the company says there are no signs of any leaks underground, but will this latest fix hold and how are people in the gulf reacting? we have live coverage straight ahead, including some from the president. barefoot, busted and soon to be out on bail. he's in court this hour and there is a chance he could actually go free. how do you like these apples? just three hours until apple's big announcement. how do they plan to repair problems with the flawed phones and their image? plus, more shocking and

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